Buying vs Leasing a Hyundai
As anyone who has shopped for a new vehicle most likely knows, there are a lot of decisions you have to make. What car, what color, what trim, and so on. But oftentimes, the most important decision is whether you should buy or lease the car. And while both are fantastic options, you can be certain that one is the best option for you. We want to offer you a few of the benefits of each payment method for a new car to help you decide which route is the best for you. Keep reading below to learn more! Then, be sure to check out our extensive inventory of new Hyundai models right here on our website!
Benefits of buying a new Hyundai
Buying, otherwise known as financing, is a fantastic way to get into a new vehicle, especially if your goal is to own your car. When you finance a vehicle, you won't have any miles-per-year restrictions, meaning no matter if you drive 10,000 miles or 30,000 miles a year, your monthly payment remains the same. Another great benefit is that you own the car, and once the loan is paid off, you get to drive the car for free! On the subject of vehicle ownership, you can customize a purchased vehicle any way you'd like. You can also trade the vehicle in at any time. If you still have a balance on the loan, the negative equity can be rolled into the cost of a new vehicle. Lastly, if you would like gap insurance on a financed vehicle, it can be purchased and rolled into your monthly payment.
Benefits of leasing a new Hyundai
When you lease a new vehicle, mileage restrictions are in place. However, Hyundai provides different mileage limits to suit your driving habits. Additional miles can be purchased up front if you think you might go over. One of the most attractive benefits of leasing a new Hyundai is that you get behind the wheel of a new car every 2-4 years. Other fantastic benefits to leasing fall under the category of maintenance coverage. For leased vehicles, routine maintenance, like an oil change, is cost-free. This is because most lease contracts end before the manufacturer's warranty expires. In the rare case that the warranty does end before the lease term does, the cost of maintenance is still low. Wear and tear on a vehicle is expected, which is why the lease agreement covers the cost of wear and tear repairs. The monthly payments for a leased vehicle are lower than those of a financed vehicle. This is because you're paying for the value of the car and not the full cost. Lastly, gap insurance is automatically rolled into a lease contract in case of a total loss.
Questions to ask when deciding to lease or buy
- How much do you drive yearly?
- What can you afford for a down payment?
- What can you afford for a monthly payment?
- Which of the benefits of each payment method help you the most?
Questions to ask when choosing your next vehicle
- How many seats do you need?
- What will the car be used for most?
- What features are important to you?
- Do you drive more on the highways or city streets?
Buy or lease your next car at Pearson Hyundai!
Deciding on the car that's right for you is an overwhelming decision, and deciding to buy or lease that car adds to that feeling. At Pearson Hyundai, we understand that, which is why we hope that after reading this page, you have a better understanding of the benefits of both options and can confidently make the best decision for you. If you have any questions about buying or leasing, please don't hesitate to reach out to us, as our friendly sales and financing teams are ready to answer any questions you may have. If you're ready to find your next vehicle, be sure to check out our full inventory right here on our website or in-store!
